Market Insights Advertising & Media Advertising

Digital Classifieds - Armenia

Armenia

The Digital Classifieds market in Armenia is anticipated to see ad spending reach US$1.49m by 2024.
This expenditure is forecasted to exhibit an annual growth rate (CAGR 2024-2029) of 3.27%, leading to an estimated market volume of US$1.75m by 2029.
When compared globally, the majority of ad spending is expected to originate from China, amounting to US$7,661.00m in 2024.
The average ad spending per internet user in the General classifieds market is projected to be US$0.19 in 2024.
Within the Digital Classifieds market, 50% of the total ad spending is projected to be generated through mobile in 2029.
In Armenia, the Digital Classifieds market is experiencing a surge in user engagement, driven by increased internet penetration and smartphone usage nationwide.

Key regions: Japan, Australia, Europe, India, Germany

Market

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Region comparison

Currency

Analyst Opinion

The Digital Classifieds market in Armenia is experiencing significant growth and development.

Customer preferences: Armenian consumers are increasingly turning to digital classifieds platforms to buy and sell goods and services. The convenience and accessibility of online platforms have made them a preferred choice for many consumers. Additionally, the ability to compare prices and access a wide range of products and services has further attracted customers to these platforms.

Trends in the market: One of the key trends in the Digital Classifieds market in Armenia is the rise of mobile usage. With the increasing penetration of smartphones and affordable mobile internet plans, more and more consumers are accessing online classifieds platforms through their mobile devices. This trend has led to the development of mobile-first platforms and the integration of mobile payment solutions, making it easier for users to transact on these platforms. Another trend in the market is the emergence of niche classifieds platforms catering to specific industries or interests. These platforms provide a more targeted and specialized experience for users, allowing them to find exactly what they are looking for. This trend is driven by the growing demand for niche products and services in Armenia.

Local special circumstances: Armenia has a relatively small population compared to other countries, which has led to a more localized and community-driven approach in the Digital Classifieds market. Local platforms that focus on specific regions or cities have gained popularity among users who prefer to deal with sellers and buyers in their local area. This localized approach also fosters a sense of trust and familiarity among users.

Underlying macroeconomic factors: The growth of the Digital Classifieds market in Armenia can be attributed to several macroeconomic factors. The country has experienced steady economic growth in recent years, leading to an increase in disposable income and consumer spending. This has created a favorable environment for the development of online marketplaces and the adoption of digital classifieds platforms. Furthermore, Armenia has a high internet penetration rate, with a significant portion of the population having access to the internet. This widespread internet connectivity has facilitated the growth of the Digital Classifieds market, as more people are able to access and use online platforms. In conclusion, the Digital Classifieds market in Armenia is witnessing rapid growth and development. Customer preferences for convenience and accessibility, along with the rise of mobile usage, are driving the adoption of online classifieds platforms. The emergence of niche platforms and the localized approach in the market further cater to the specific needs and preferences of Armenian consumers. The underlying macroeconomic factors, such as economic growth and high internet penetration, have provided a conducive environment for the growth of the Digital Classifieds market in Armenia.

Methodology

Data coverage:

Data encompasses enterprises (B2B). Figures are based on digital classifieds advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers digital classifieds advertising fees paid by advertisers to display online jobs, motor, real estate, and general classifieds.

Modeling approach:

Market size is determined by a combined top-down and bottom-up approach. We use market data from industry association reports, third-party reports, and survey results from our primary research (e.g., Consumer Insights Global Survey) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, internet users, and digital consumer spending.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the market. For instance, the S-curve function is well suited to forecast digital products due to the non-linear growth of technology adoption, whereas exponential trend smoothing (ETS) is more suited for projecting steady growth in traditional advertising markets.

Additional notes:

Data is modeled using current exchange rates. The impacts of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice per year in case market dynamics change.